We believe Lucid will take EVs to the next level with its proprietary technology and will provide attractive opportunities for Churchill investors.”ĬCIV stock was up 4.9% in pre-market trading on Monday and is up 150.8% since the start of the year. “Lucid has exceeded our expectations since announcing the merger at the end of February and is set to become a leading US technology and sustainable mobility company. CCIV and Lucid are combining at a transaction equity value of 11.75. Michael Klein, chairman and CEO of Churchill Capital IV, said this about the news boosting CCIV stock up today. Lucid Motors announced today that they have entered into a definitive merger agreement. They will also be delisted from the New York Stock Exchange and moved over to the Nasdaq Exchange. httpsCCIV PRICE PREDICTION CCIV STOCK UPDATE CCIV Stock Analysis: Price Prediction Before Lucid Merger HYLIION STOCK, CCIV Buy NOW + Lucid Details EXPOSED. First off, the shares will change from CCIV to the new LCID stock ticker. So long as all goes well, the plan is for the combination with Lucid Motors to be confirmed the following day.Ĭhurchill Capital IV will also see a change to its stock once the merger is complete. Shareholders of CCIV stock will meet on July 22 for a special meeting to vote on the matter. Securities and Exchange Commission (SEC) has confirmed its Form S-4 which will have it holding a special meeting of shareholders to vote on the matter. The feature enables drivers to use the voice assistant for navigation, phone calls, media streaming, and smart home control while driving.Source: Around the World Photos / Ī press release from Churchill Capital IV reveals additional details about its merger plan with Lucid Motors. In September 2020, Lucid partnered with eCommerce giant Amazon to build compatibility with Amazon’s Alexa. As of December 1, 2020, Lucid completed the construction of the factory dubbed AMP-1. In December of 2019, Lucid Motors began constructing its Casa Grande, Arizona, as the first greenfield facility for electric vehicle manufacturing in the United States. The deal helped kickstart the manufacturing of Lucid’s first electric vehicle, the Lucid Air. On the date of publication, William White did not have (either directly or indirectly) any positions. Lucid main competitorsĪfter years of failure to secure significant funding, Lucid Motors in September 2018 closed a $1 billion deal with Saudi Arabia’s sovereign wealth fund to fund electric car production. CCIV Stock’s SPAC Circus Is Just Background Noise CCIV stock was up 7.3 as of Friday morning. The company aims to build intuitive, liberating, and vehicles designed for all the ways people get around. The vehicles are built upon Lucid’s electric powertrain technology and are uniquely developed to deliver a unique experience for both driver and passenger. Lucid aspires to create electric vehicles centered around the human experience. The company trades in the Nasdaq exchange under the ticker LCID after going public in July 2021 through Churchill Capital Corp IV (NYSE: CCIV), a special purpose acquisition company (SPAC) that trades on the New York Stock Exchange. The company began as a battery manufacturer before venturing into electric vehicles. The company was founded in 2007 by Bernard Tse, Sam Weng, and Sheaupyng Lin with headquarters in Newmark, California, United States. Lucid Motors (NASDAQ: LCID) is an American luxury electric vehicle manufacturer with divisions in energy storage and original equipment manufacturing.
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